Business description: Icade

Icade is both a commercial real estate company (assets at 12/31/2025: EUR 6.1 billion, including 100% ownership and joint-venture interests) and a property developer (net sales in 2025: EUR 1.1 billion), operating throughout France. As a long-term partner, Icade responds to changing needs and puts climate issues and the preservation of biodiversity at the heart of its business model, reinventing real estate and contributing to a more sustainable city.

Listed (SIIC) on Euronext Paris, Icade's main shareholder is the Caisse des Dépôts group.

Number of employees: 981

Sales by Activity: Icade

Fiscal Period: December 2021 (EUR) 2022 (EUR) 2023 (EUR) 2024 (EUR) 2025 (EUR)

Property Development

94Cr 107.71Cr 113.92Cr 121.41Cr 112.79Cr

Property Investment

41Cr 40Cr 52Cr 38Cr 35Cr

Intersegment Transactions and Other Items

-1.55Cr -1.76Cr 13L -10L -21L

Unallocated Adjustment for Property Development Joint Ventures

- - - -18Cr -14Cr

Healthcare Property Investment Business

32Cr 36Cr - - -

Geographical breakdown of sales: Icade

Fiscal Period: December 2021 (EUR) 2022 (EUR) 2023 (EUR) 2024 (EUR) 2025 (EUR)

France

164.8Cr 182.96Cr 152.47Cr 141.23Cr 133.69Cr

Executive Committee: Icade

Manager TitleAgeSince
Chief Executive Officer 44 21/04/2023
Director of Finance/CFO 60 07/04/2025
Chief Tech/Sci/R&D Officer - 01/07/2024
Compliance Officer 56 01/01/2018
Corporate Secretary - 29/06/2026

Composition of the Board of Directors: Icade

Director TitleAgeSince
Director/Board Member 62 31/05/2011
Director/Board Member 69 23/05/2016
Director/Board Member 52 24/04/2019
Director/Board Member 68 06/10/2020
Director/Board Member 61 17/10/2019
Director/Board Member 56 20/10/2023
Director/Board Member 54 06/12/2023
Director/Board Member - 19/04/2024
Director/Board Member 61 20/10/2023
Chairman 64 10/06/2026

Shareholders: Icade

NameStocks%Valuation
Government of France
39.2 %
2,98,85,071 39.2 % 631 M €
Predica Prévoyance Dialogue du Crédit Agricole SA (Invt Port)
18.85 %
1,43,73,960 18.85 % 304 M €
Goldman Sachs International (Invt Mgmt)
4.156 %
31,68,333 4.156 % 67 M €
2.241 %
17,08,418 2.241 % 36 M €
Icade Employee Stock Ownership Plan
0.5532 %
4,21,722 0.5532 % 9 M €

Holdings: Icade

NameStocks%Valuation
ICADE
0.54%
4,08,4660.54% 9 M $

Company details: Icade

Icade SA

Tour Hyfive

92074, Paris

+33 1 41 57 70 00

http://www.icade.fr
address Icade(ICAD)

Group companies: Icade

NameCategory and Sector
Quinconces Activites SCI
Real Estate Development
Real Estate Development
Silky Way SCI
Stratège SCI

Diversified REITs

Change 5-day change 1-year change 3-year change Capi.($)
-0.75%-4.15%-16.50%-49.71% 151.83Cr
-0.35%-0.88%+3.25%+9.98% 1.59TCr
-0.69%-2.08% - - 719.12Cr
-2.33%-4.40%+16.24%+8.70% 647.14Cr
-1.37%-1.85%-1.82%+22.27% 639.74Cr
-0.89%-4.29%-18.17%+7.47% 621.58Cr
-0.90%-3.45%-21.40%-32.91% 571.05Cr
-0.95%-3.47%-1.06%+2.18% 569.2Cr
-1.72%-3.76%+18.89%+27.35% 563.65Cr
-0.56%-2.99%-24.04%-24.04% 510.73Cr
Average -1.03%-1.60%-4.96%-3.19% 658.76Cr
Weighted average by Cap. -0.94%-1.37%-2.34%+3.15%
Trader
Investor
Global
Quality
ESG MSCI
AAA
Sell
Consensus
Buy
Mean consensus
UNDERPERFORM
Number of Analysts
11
Last Close Price
17.23EUR
Average target price
20.86EUR
Spread / Average Target
+21.09%

Quarterly revenue - Rate of surprise

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